Sunpointe LLC Purchases New Stake in Barrick Mining Corporation $B

Sunpointe LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 30,994 shares of the gold and copper producer’s stock, valued at approximately $1,016,000.

A number of other large investors have also recently made changes to their positions in the business. Crossmark Global Holdings Inc. bought a new stake in shares of Barrick Mining during the third quarter worth about $590,000. Orion Porfolio Solutions LLC boosted its stake in Barrick Mining by 26.6% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 92,091 shares of the gold and copper producer’s stock valued at $3,018,000 after purchasing an additional 19,354 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in Barrick Mining by 35.2% during the 3rd quarter. KCM Investment Advisors LLC now owns 24,296 shares of the gold and copper producer’s stock valued at $796,000 after purchasing an additional 6,328 shares during the last quarter. Amova Asset Management Americas Inc. increased its holdings in Barrick Mining by 7.5% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 87,079 shares of the gold and copper producer’s stock worth $2,854,000 after purchasing an additional 6,073 shares in the last quarter. Finally, Reyes Financial Architecture Inc. boosted its position in shares of Barrick Mining by 1,924.2% during the third quarter. Reyes Financial Architecture Inc. now owns 1,336 shares of the gold and copper producer’s stock valued at $44,000 after buying an additional 1,270 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on B. ATB Cormark Capital Markets raised Barrick Mining to a “moderate buy” rating in a research report on Monday, February 9th. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. Cormark upgraded shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $71.00 price target on shares of Barrick Mining in a research report on Wednesday, February 4th. Finally, TD Cowen restated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Stock Performance

Shares of B stock opened at $45.35 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The firm has a market cap of $75.98 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.46 and a beta of 0.41. The firm’s 50-day simple moving average is $47.88 and its two-hundred day simple moving average is $39.11. Barrick Mining Corporation has a 52 week low of $17.00 and a 52 week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 3.7%. Barrick Mining’s payout ratio is 57.34%.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.